GENCOs threaten blackout for 3 months over bulk buyer’s debt

GENCOs threaten blackout for 3 months over bulk buyer’s debt

Electricity Generation Companies (GenCos) have threatened to plunge the country into total darkness if the Nigeria Electricity Bulk Trader(aka bulk buyer) failed to pay its debt to GenCos.

Read also: Nigeria may witness total blackout next week, Egbin Power

Bulk buyer is a public liability company engage in the purchase and resale of electric power and ancillary services from independent power producers and generation companies.

Vanguard reports that since this year, Bulk buyer has not paid GenCos a dime adding that the attention of the presidency has been drawn to the situation by the generating companies.

It says the planned lengthy blackout has implication to the security of the country. This it said has been brought to the notice of National Security Adviser, Major General Babagana Monguno(Rtd.)

The report said one of the GenCos is owed N57 billion, and the last time the company was paid for its services was in December 2016 when it got N1.6 out of a N5.4 billion invoice for that month.

However, the paper quoted Bulk buyer’s spokesperson, Henrietta Ighomrore, as saying that GenCos are paid for electricity generated and put on the grid based on money collected from the Distribution Companies (DisCos),

Henrietta explained that Bulk buyer does not keep such funds once paid by DisCos.

Email *

Related Articles


Governor of Central Bank of Nigeria(CBN), Mr. Godwin Emefiele, is on the verge of being sacked as the ongoing investigation

N5bn fake tyres importation: Court remands 2 Chinese, Nigerian

The Federal High Court in Lagos on Monday ordered the detention in prison of two Chinese citizens and a Nigerian

There may be no food next year – Gov. Ortom

Benue State Governor, Samuel Ortom, yesterday sounded the alarm over the insecurity pervading the state, which prides itself as the


Related Posts

Sen. Saraki accused of being a bully
Pro-Chancellor and Chairperson of the Governing Council of Federal University, Otuoke, Bayelsa State, Senator Gbemisola Saraki, has come under fi...
Am ready to die - Suspended Ekiti lawmaker
Hon. Gboyega Aribisogun, a member of Ekiti State House of Assembly who was suspended for 180 legislative days said he was ready to die in his bid...
There is only one man-of-God in Nigeria - Yomi Fash Lanso
Actor Yomi Fash Lanso has hit out at Nigerian pastors saying almost all of them were men of questionable characters living large on tithes and of...
powered by RelatedPosts